Jiu Rong Holdings Limited 久融控股有限公司

Wu Yinong resigns as INED of Jiu Rong (2358) following his SFC sanction
Company announcement, 17-Apr-2019
This comes 3 days after Webb-site complained to HKEX that the company had failed to announce that Mr Wu had been sanctioned by the SFC for his due diligence failures while sponsoring an IPO at China Merchants Securities. The sanction was announced by the SFC on 27-Feb-2019, 7 weeks before. The question is, why do we have to point these things out to HKEX?
SFC suspends ex-China Merchants Securities RO Wu Yinong for 18 months
SFC, 27-Feb-2019
The firm only sponsored 2 IPOs in 2009, so this almost certainly relates to China Metal Recycling (Holdings) Ltd. In 2015, the SFC obtained a court order to wind it up. The other sponsor was UBS AG. We note that Mr Wu is still an INED of Jiu Rong (2358), a member of the "Enigma Network".
The Enigma Network: 50 stocks not to own
Sometimes, all you need to tell a story is a picture. (15-May-2017)
Ex-HSBC Broking senior executive jailed for accepting HK$1.1m bribes
ICAC, 21-Jan-2010
Former HSBC executive guilty of accepting $1.1m in bribes
ICAC, 7-Jan-2010
Investigation by ICAC
Company announcement, 24-Feb-2009
Duo charged for alleged bribery and misleading SFC
ICAC, 17-Feb-2009

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top